Italian Company Eni and Egyptian Tharwa Company will start digging the first exploratory well in Noor Field in Northern Sinai within a week, an official at the Egyptian Natural Gas Holding Company (EGAS) told Reuters. In August, Minister of Petroleum and Mineral Resources, Tarek el-Molla, signed an oil agreement with Egyptian Natural Gas Holding Company (Egas), Tharwa Petroleum Company and Italian Company, Eni, in Noor marine area in the Mediterranean Sea to drill two wells, with a total investment of USD105mn.
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